Maybe it's just me, but BPs target for FY15 of 26c doesn't seem that far off. All we know at the moment is MBE are forecasting an earnings of >4 million. Not knowing exactly what that means a conservative analyst would assume at least 4 million for EOY earnings.
That gives MBE an earnings per share of just a fraction over 1c and at 26c a P/E of approx 24. That's still higher than the asx average (approx 15-ish). I can't find the average for the industry.
Comsec tells me the sector P/E is approx 26. So it looks to be pretty on target. If MBE hadn't of spent so much on marketing etc, it would have been quite a bit lower and thus cheaper.
What matters now or will soon, is what will MBE's FY16 P/E look like if it remains at 26c? I think we'll have a better idea at the end of Q4.
Given that the international arm of the m-payments business is still young, the conservative analyst might be factoring in a probability of the growth not continuing for too long. That is, he/she may need more data to more positively asses the growth profile of the international arm to better understand where the overall company is headed.
